The Financial Shared Service Center of Yongsheng Service with a coverage of multiple functions and formats was officially launched in Wuhan pilot on July 1, 2019, marking the re-upgrading of Yongsheng Service for intelligent property, the gradual formation of financing transformation model of shared finance, business finance as well as strategic finance and opening a new chapter of financial reform of Yongsheng Service!
Intelligent property & financial reform
Financial Shared Service Center is the latest application of enterprise centralized management mode in financial management. Its purpose is to solve the problem of duplicate investment and inefficiency in the construction of financial functions of large groups through an effective operation model.
In the Second Five-Year Strategy of Yongsheng Service, with intelligent property as one of the main construction directions of the Group, the launch of the Financial Shared Service Center will effectively enhance the wide application of new technologies in the field of property management, realize fine management for Yongsheng Service, effectively reduce costs and further advance towards intelligent property.
During the launch of Yongsheng Service Financial Shared Service System, a total of 13 business systems were connected through 53 system interfaces, which realized the full connection between business and finance. As of 18:53 on July 1, the first reimbursement payment was successfully delivered and the accounting voucher was successfully pushed to the finance system, which greatly improved the efficiency of employee reimbursement.
Advantages of Financial Shared Service Center
The head of Yongsheng Service Financial Shared Service Center introduced, “The launch of Financial Shared Service Center helps to realize a reasonable division of basic accounting work and expert financial functions and achieve a comprehensive effect of resources integration, cost reduction and efficiency increase as well as business guarantee security.” But the Shared Service Center brings Yongsheng Service much more than that.
ONE Enhance business expansion flexibility ▉
In the future business expansion, the front-line focuses on core business while the Shared Service Center serves as a solid base to quickly provide financial support and services, which significantly enhances the flexibility of business expansion.
TWO Improve operation efficiency ▉
The Financial Shared Service Center standardizes and centralizes the processing of similar businesses to enhance service quality and business experience as well as give full play to scale advantages and improve operation efficiency;
THREE Strengthen risk management ▉
Through highly standardized operation and assistance of information technology means, the Financial Shared Service Center will enhance risk management and control ability;
FOUR Realize function transformation ▉
In team building, the Financial Shared Service Center will free more financial staff from traditional basic work, and engage them in the strategic support, financial control and decision-making analysis as well as focus on core competencies to realize the function transformation of financial staff.
▲Focus on core business
FIVE Exploit data value ▉
Financial accounting is the least significant end of the company’s business operation. It is a natural data center. After stable operation, the Shared Service Center will boost the construction of digital Yongsheng Service through vertical and horizontal data integration, thus making data more accurate and valuable to realize finance-driven operation.
▲Big data integration makes data more valuable
Prospect & future
As an integral part of the Group's overall strategy, the launch of the Financial Shared Service Center means that Yongsheng Service has taken another solid step towards the era of big data financial integration and information integration.
The Financial Shared Service Center of Yongsheng Service will make continuous innovation, advance towards the globalized and intelligent Global Business Service (GBS) with innovative expansion, and improve the core competitiveness of the company!
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